Latest news with #RahailAslam
Gulf Today
01-07-2025
- Business
- Gulf Today
Dubai Holding to develop new projects at Palm Jebel Ali and d3
Dubai Holding and Select Group, a leading multi-discipline real estate development and investment group along with its long-standing JV partner Emirates Strategic Investments Company (ESIC), have entered a strategic agreement to develop landmark projects at two of the most iconic locations in Dubai, Palm Jebel Ali and Dubai Design District (d3). The milestone agreement marks Dubai Holding's first strategic land sale with a third-party developer at Palm Jebel Ali, underscoring its commitment to unlocking long-term value across its world-class master developments. This landmark transaction reinforces a shared vision to create dynamic communities that strengthen Dubai's position as a global destination of choice. Select Group will develop and deliver two transformative large-scale developments. At Palm Jebel Ali, the Group will create upscale residential and hospitality offerings that establish new benchmarks for luxury waterfront lifestyles in this world-class destination. Meanwhile, the d3 project will serve as a vibrant mixed-use community, seamlessly blending culture, innovation and contemporary urban living in one of Dubai's most creative hubs. Commenting on the partnership, Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said, 'Palm Jebel Ali is an iconic development poised to elevate Dubai's global reputation as a premier waterfront destination. By joining forces with Select Group, we are delivering on the leadership's vision of creating a world-class coastal destination that sets new standards in luxury residential and hospitality experiences. This partnership reaffirms our commitment to consolidating the emirate's position as a globally renowned lifestyle and investment destination.' Rahail Aslam, Chairman of Select Group, added, 'Dubai continues to cement its position as a global destination for investment, innovation, and quality living. This acquisition represents an important step in our ongoing strategy to deliver exceptional developments in key growth corridors. We are incredibly excited about what we will be bringing to market in both Palm Jebel Ali and d3 – two unique locations that align perfectly with our brand ethos of waterfront location, quality, sophistication and long-term value creation.' In March, 2025 National Central Cooling Company (Tabreed) and Dubai Holding Investments, part of Dubai Holding, have entered a concession agreement to provide district cooling services for Palm Jebel Ali in Dubai. The agreement establishes a joint venture, with Tabreed holding a 51 per cent stake and Dubai Holding Investments 49 per cent. This structure is designed to optimise cooling capacity, enhance information-sharing and strengthen customer protection, while ensuring sustainable cooling solutions for one of Dubai's most transformative developments. Supported by Tabreed's major shareholders, sovereign investor Mubadala (42 per cent) and the French low-carbon energy and services company ENGIE (40 per cent), the agreement was signed by Khalid Al Marzooqi, CEO of Tabreed, and Omar Karim, CEO of Dubai Holding Investments, in the presence of senior officials from Tabreed, Dubai Holding, Mubadala and ENGIE. Subject to customary approvals, construction of the district cooling network is expected to commence in Q2 2025, with the first cooling services expected to be delivered by 2027. Over time, the system will address the need for approximately 250,000 RTs of cooling capacity and require an estimated investment of Dhs1.5 billion. Following the signing, Dr. Bakheet Al Katheeri, Chairman of Tabreed and Chief Executive Officer of Mubadala's UAE Investments Platform, said, 'Mubadala has a worldwide reputation for being a responsible investor with an unwavering focus on its ESG framework and Tabreed is a vital part of our portfolio as a driver of sustainability and societal progress. The signing marks a major milestone in Tabreed's 27-year history and underscores the company's commitment to providing sustainable, high-efficiency cooling solutions for large-scale developments.' Karim commented, 'This agreement reinforces Dubai Holding's long-term vision of developing sustainable communities with high-quality infrastructure at their core. Palm Jebel Ali is one of Dubai's most ambitious developments and by incorporating district cooling services we support our customers and align to our commitment to deliver future-ready urban environments.' In turn, Al Marzooqi said, 'Palm Jebel Ali is a transformative project that will shape Dubai's future and we are proud to play a role in ensuring its infrastructure meets world-class standards.' Earlier in May 2025 Dubai Holding, a diversified global investment company with investments in more than 30 countries, has announced the launch of its Early Careers Programme, a future-focused initiative designed to attract, nurture and accelerate high-potential talent. WAM
Time of India
01-07-2025
- Business
- Time of India
Dubai's top developers announce plans to collaborate and transform Palm Jebel Ali and Dubai Design District
Dubai Holding and Select Group to develop luxury homes and creative spaces at Palm Jebel Ali and d3/Representative Image Dubai Holding has partnered with Select Group and Emirates Strategic Investments Company LLC (ESIC) to launch major residential and hospitality developments at Palm Jebel Ali and Dubai Design District (d3). The agreement marks Dubai Holding's first third-party land sale at Palm Jebel Ali and reflects a broader strategy to elevate Dubai's standing as a global destination for upscale waterfront living and design-forward urban spaces. New Waterfront Development at Palm Jebel Ali The collaboration will bring premium residential and hospitality offerings to Palm Jebel Ali, an iconic project spanning seven islands, 16 fronds, and offering over 90 kilometers of beachfront across 13.4 kilometers of land. The project will focus on: Mixed-use, walkable neighbourhoods Panoramic Arabian Gulf views Upscale hospitality and living experiences This landmark initiative will catalyze a new growth corridor in the Jebel Ali area, building on Dubai's vision of creating world-class coastal destinations. 'Palm Jebel Ali is an iconic development poised to elevate Dubai's global reputation as a premier waterfront destination,' said Khalid Al Malik, CEO of Dubai Holding Real Estate speaking to local news outlet, Khaleej Times. 'By joining forces with Select Group, we are delivering on the leadership's vision of creating a world-class coastal destination that sets new standards in luxury residential and hospitality experiences,' he added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 40분이면 끝! 이미지로 배우는 진짜 영어 스티븐영어 지금 시작하기 Undo Vibrant Mixed-Use Project in Dubai Design District (d3) In parallel, the partnership will also develop a major new project at Dubai Design District (d3). The upcoming development aims to create a vibrant, mixed-use community that blends: Culture Innovation Contemporary urban living The area is already recognized globally as a hub for creative talent and design professionals. With views of the Dubai skyline and Burj Khalifa, d3 stands out as Dubai's beacon for design innovation and has helped the city earn the title of UNESCO Creative City of Design, the first in the Middle East. 'We are incredibly excited about what we will be bringing to market in both Palm Jebel Ali and d3,' said Rahail Aslam, Chairman of Select Group. 'These are two unique locations that align perfectly with our brand ethos of waterfront location, quality, sophistication and long-term value creation.' Design, Strategy, and Market Impact Design and planning for both Palm Jebel Ali and d3 projects are currently underway. Further details — including architectural designs, construction timelines, and unit specifics — will be announced in due course. This partnership extends Select Group's ongoing expansion into design-led, high-impact developments that cater to: A new generation of global residents Investors seeking immersive, luxury-driven environments Those looking for experiences that go beyond traditional luxury The group's past developments include: The Palm, Dubai Peninsula in Business Bay Six Senses Residences Dubai Marina These projects reflect a consistent track record of delivering premium developments with long-term investment value.
Dubai Eye
01-07-2025
- Business
- Dubai Eye
Dubai Holding, Select Group to collaborate on two new developments
Dubai Holding and Select Group, a real estate development and investment firm, have partnered to develop two "large-scale" residential and hospitality establishments in Palm Jebel Ali and Dubai Design District (d3). At Palm Jebel Ali, Select Group will create upscale residential and hospitality offerings that establish "new benchmarks for luxury waterfront lifestyles in this world-class destination". Meanwhile, the d3 project will serve as "a vibrant mixed-use community, seamlessly blending culture, innovation and contemporary urban living in one of Dubai's most creative hubs". Design and planning phases for both projects are reportedly underway, with further details regarding project specifics and timelines to be announced soon. The milestone agreement marks Dubai Holding's first strategic land sale with a third-party developer at Palm Jebel Ali. "By joining forces with Select Group, we are delivering on the leadership's vision of creating a world-class coastal destination that sets new standards in luxury residential and hospitality experiences," highlighted Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate. "This partnership reaffirms our commitment to consolidating the emirate's position as a globally renowned lifestyle and investment destination." Rahail Aslam, Chairman of Select Group, added that the "acquisition represents an important step in our ongoing strategy to deliver exceptional developments in key growth corridors". Palm Jebel Ali's seven islands span 13.4 km and feature 16 fronds and over 90 km of beachfront, marking the beginning of a new growth corridor in the Jebel Ali area, underlining the expansion of the emirate in line with the Dubai 2040 Urban Master Plan and the Dubai Economic Agenda D33. The landmark development is designed with several mixed-use pedestrian-friendly neighbourhoods offering panoramic views of the Arabian Gulf. d3 is a global creative ecosystem and the destination of choice for design talent from around the world. Offering stunning views of the Dubai skyline including the iconic Burj Khalifa, d3 reinforces Dubai's status as the first city in the Middle East to be designated a UNESCO Creative City of Design.
Hi Dubai
01-07-2025
- Business
- Hi Dubai
Dubai Holding Seals Deal with Select Group to Develop Landmark Projects at Palm Jebel Ali and d3
Dubai Holding has partnered with Select Group and Emirates Strategic Investments Company (ESIC) to develop major new projects at Palm Jebel Ali and Dubai Design District (d3), marking a significant move to shape Dubai's future urban and waterfront landscapes. This agreement represents Dubai Holding's first third-party land sale at Palm Jebel Ali and underscores its ambition to unlock long-term value across its master developments. The collaboration aims to deliver high-end residential, hospitality, and mixed-use communities in two of the city's most iconic districts. At Palm Jebel Ali, Select Group will develop luxury waterfront residences and hospitality offerings, setting new standards for upscale coastal living. Meanwhile, the d3 project will introduce a vibrant, design-forward urban community that blends innovation, culture, and contemporary city life. Khalid Al Malik, CEO of Dubai Holding Real Estate, said the partnership supports Dubai's vision of becoming a global lifestyle and investment hub. Select Group Chairman Rahail Aslam echoed this, calling the acquisition a key step in their expansion strategy into Dubai's growth corridors. Both projects align with the Dubai 2040 Urban Master Plan and the D33 Economic Agenda, reinforcing Dubai's commitment to sustainable growth and innovation. Planning is underway, with more details to follow. News Source: Dubai Media Office
ME Construction
11-02-2025
- Business
- ME Construction
Select Group buys Radisson Blu Dubai for US $54.5mn
Property Select Group buys Radisson Blu Dubai for US $54.5mn By This acquisition further solidifies Select Group's commitment to enhancing hospitality experiences in key locations, ensuring long-term growth and value creation in the sector Dubai-based Select Group has acquired the Radisson Blu Hotel Dubai Media City for US $54.5mn, marking the highest-recorded hotel sale in Dubai's Media Free Zone. The transaction, brokered by Knight Frank MENA, highlights the continued strong investment appeal of Dubai's hospitality sector, which has seen twelve hotel transactions in the past 18 months, with Knight Frank handling nine of them, said a statement. As part of its expansion strategy, Select Group plans to undertake refurbishment of the business-centric hotel, which is situated near the regional headquarters of META, Pfizer, Samsung, and Mastercard. The renovation will focus on upgrading rooms, public areas, and food and beverage venues to fill what Select Group identifies as a critical gap in Media City's hospitality offerings. Rahail Aslam, Founder and Chairman of Select Group said, 'We are excited to announce the acquisition of the Radisson Blu Hotel, Dubai Media City, marking a pivotal milestone in our ongoing commitment to securing prime assets in strategic locations. The property will undergo a comprehensive refurbishment to enhance the experience for both travelers and residents.' Andrew Love, Regional Partner and Head of Capital Markets at Knight Frank MENA highlighted, 'The sale of the Radisson Blu Hotel, Dubai Media City is a testament to Dubai's continued evolution as a global hotspot for hotel investment. As the highest recorded hotel sale transaction in the Media Free Zone, it demonstrates the value of strategically located assets in Dubai's thriving market.' The purchase was executed through Select M City, subsidiary of Select Investments Limited, with Baker McKenzie and Wisefields serving as legal advisors. This acquisition further solidifies Select Group's commitment to enhancing hospitality experiences in key locations, ensuring long-term growth and value creation in the sector. Select Group is expanding its portfolio with a development portfolio exceeding 20m sqft and a gross development value of $9.574bn. This expansion solidifies the company's position in the property development landscape. Select Group has delivered over 7,000 homes and has 6,000 additional units in the pipeline, further enhancing its reputation in the industry.
